Irongate rejects new, R12.3bn offer from 360 Capital
The group, which had rejected an unsolicited takeover bid in October, says the higher amount is insufficient
12 November 2021 - 09:05
Irongate, previously known as Investec Australia Property Fund, has rejected a new A$1.1bn (R12.35bn) offer from fund manager 360 Capital, saying a 3.1% bump in its offer price is still not enough.
Irongate had already rejected an earlier offer from 360 Capital in October of A$1.65 per security, which was unsolicited and had numerous conditions, including unanimous support from the Irongate board. 360 Capital holds about a fifth of the Australian-focused property group...
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